Maaden secures $1b in oversubscribed financing as Saudi mining push accelerates
Saudi Arabian Mining Co. (Maaden) has secured USD 1 billion in inaugural international syndicated credit facilities, with strong demand from global lenders highlighting confidence in the company's expansion strategy and Saudi Arabia's broader mining ambitions. Maaden has secured USD 1 billion in...
Vedanta Aluminium veteran Rajiv Kumar joins Jindal Steel as COO
Vedanta Aluminium veteran Rajiv Kumar has been appointed Chief Operating Officer (COO) of Jindal Steel after completing a successful stint as Chief Executive Officer of Vedanta Aluminium. Kumar, who brings more than three decades of experience in the metals and mining industry, will now oversee the...
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Orbite Changes its Name to Orbite Aluminae and Confirms Trading Date on the Toronto Stock Exchange
Exploration Orbite VSPA Inc.is pleased to announce that effective at the open of markets on October 17, 2011, the Company will be re-named "Orbite Aluminae Inc.". The name change will not impact the Company's organizational structure or day-to-day operations. "The new name Orbite Aluminae reflects...
Monax Mining commences maiden drilling to test 44.5% bauxite sample, Queensland
Monax Mining has commenced the maiden drilling program at its Pretender Creek Bauxite project in Northern Queensland to test surface bauxite. Monax has an exploration portfolio of three tenements covering 1,198 square kilometres within the Cape York Peninsula. The 180 hole program will test three...
Chinese Investment In Africa’s Mining Sector To Persist
Chinese companies are to continue seeking bauxite projects among others overseas as the country has a significant supply deficit in these metals. Regarding iron ore, China accounts for 14.9% of global production but consumes over 40% of the world’s steel output. This differential is replicated in...
New mining office could mean larger stake in royalties for Sao Paulo - Mr Joao Caramez
BNamericas reported that the new mining office within São Paulo state's energy department will help the state negotiate a larger share in mining royalties. Mr Joao Caramez state deputy said that under current law, municipalities receive 65% of total royalty payments known locally as the CFEM tax....
Mining bill won't hurt, will boost business setup: NALCO
In an interview to CNBC-TV18, BL Bagra, director finance at NALCO says the new Mines and Minerals (Development and Regulation) MMRD Act is unlikely to hurt much, since the business environment it is likely to create, he says in due course of time will make the company’s business proposition better....
Hunan Luxi County to Explore Bauxite
In order to improve the development of minerals and make it high-end and high-quality oriented,Luxi county are to focus on introducing stainless stell enterprises which specializes in aluminum powder and pigment development. Luxi county do not possess prominent location and resources advantages,&...
Expect royalty payout to double due to new mining bill: BL Bagra, NALCO Ltd
Mr.Bagra,Nalco CMD says in an interview that as far as NALCO is concerned,their annual payment of royalty on the bauxite, which they are mining presently is in the range of Rs 60 crores. However, that was based on the pre-expanded capacity. Now that their second phase of expansion of alumina...
China gains in aluminum field
China uses clumsy and expensive methods to extract the raw material for aluminum in underground mines, Alcoa CEO Klaus Kleinfeld said Wednesday. Yet the Asian nation manages to produce about 40 percent of the world's aluminum and plans to produce more by mining from the surface, a more efficient...
First Bauxite Corp. Announces Completion of Bonasika Bauxite Project Feasibility Study Update
FIRST BAUXITE CORPORATION is pleased to announce the completion of the update on its Bonasika Bauxite Project Feasibility Study and to report significantly improved results by the inclusion of the Bonasika 6 and 7 deposits in the economic analysis. The Company has been working for the past year on...
Another bauxite mine
A CHINESE company operating a bauxite mine in Vanua Levu is in the process of setting up another mine there. The bauxite mine in operation at Bua now will be officially opened on November 8. But the company is already in the process of setting up another bauxite mine in the same area. The mine is...
Bauxite prices to go up post new mines bill
Bauxite and coal among other minerals are likely to become more expensive once the new Mines Bill, approved by the Cabinet on Friday, comes into effect. "Prices of all the minerals will go up due to this (the new Mines Bill), once enacted," the Federation of Indian Mineral Industries' Secretary...
China takes mining measures
In China,mines will be required to boost production efficiency,as per information received. China is stepping up efforts to conserve natural resources including bauxite by clamping down on illegal mining and curbing exports of the commodities.
New mining law
The Indian Union Cabinet is set to approve a new law that will provide more rights to tribals in commencement and end of mining activity besides providing Rs 10,000 crore annually to 60 tribal-dominated districts. The bill for the new mining law and the repeal of the Mines and Minerals (Development...
Australia's Atlantic proposes bauxite supply chain project in Vietnam
Australia-listed Atlantic Limited said Thursday it has signed an agreement with Vietnam targeting an integrated bauxite "mine-rail-port" supply chain project in the country's Central Highlands. Under the agreement, signed with the Institute of Mining Science & Metallurgy under the Vietnamese...
Family firm sets sights on Laos
MT Alumet, one of Thailand's leading manufacturers of aluminium extrusions, is beefing up its domestic and global expansion and is set to diversify into mining and drinking water in Laos. Executive director Jainnisa Kuvinichkul says the Thai-owned company is investing 200 million baht to raise...
Mineral production rises in Guinea
Bauxite or aluminium ore production in Guinea the world's top supplier rose 5.2% year-on-year during the first half of 2011 to 9.7Mt, according to a report released in the capital this week. Guinea's economy relies heavily on its mining sector, and its resource riches have drawn billions of dollars...
IBM detects illegal mining worth Rs. 226 crore
Minerals worth Rs. 226.04 crores were illegally mined in various States across the country during the previous fiscal, according to findings of the Indian Bureau of Mines (IBM), which monitors and prevents such unlawful activities. In 2010-11 fiscal year, 14,204 cases of illegal mining over an...
ED seizes Bauxite lease files, to slap PMLA case
Enforcement Directorate officials on Monday took possession of important files relating to the mining leases granted to companies from the state Secretariat. While taking over 22 such important files, the ED team led by deputy director N Sridhar met chief secretary S V Prasad and informed him that...
